Honda looks to new leadership in research veteran with US experience

Honda Motor Co named Takanobu Ito, an expert in auto development, as its new president on Monday, in an apparent effort to aim for a turnaround under fresh and younger leadership.

Japan’s number-two automaker said in a statement on Monday that Ito, senior managing director overseeing auto operations, who has experience working in the US, replaces Takeo Fukui, who is stepping down as president.

The move follows a similar change at the top at bigger Japanese rival Toyota Motor Corp, which recently named Akio Toyoda, a member of the founding family, replacing Katsuaki Watanabe.

The change at Honda, part of a minor reshuffling of its board, still needs shareholders’ approval at a meeting in June.